Grace Community Churcb (Ireland) Limited Trustees, Report The trustees, are dire¢tot5 for the purposes of company law, present the annual report together with the financia] statements of the ckwitable company for the yeaT ended 30 September 2022. Objectives and activities Objects and ainL The charitable pUoSe of Grace Community Church (Ireland) Limited is the advancement of the Christian religion for the benefit of the public in the area of benefit. The principal fiinction is to relieve the proverty and the advancement of education and to provide facilities in the interest of welfare with the object of improving the conditions of life for said inhabitants. Public benefil The direct benefits flowing from advancement of religion include holding weekly church services, mid week gatherings and small group5 which are open to anyone. A direct benefit comes from providing facilities at a community hub in Richhill. This community spa¢¢ 15 place for diifferent groups in the collllnunity to meeL Trnstees And officers The trustees aryd officers serving during the year and since the year end were as follows: Trustees.. Mr Neil Dawson Mr David Allan M¢Brid¢ Mr N¢vill¢ William Garland The trustees meet regularly to discuss the broad strategy of the charity. Ob'ectives and A¢tivities The principal activities of the charity ar¢ to SUPPOrt and facilitate the Chwch, raise awareness and understsnding of Evangelical Christian beliefs and prdctices. Cary out missionary and outreach Work within the community served by the church as well &$ holdin8 regular public worship 5ervic¢5 in the context of the Church. Our office and administrative address is l Blenheim Courl Richhill BT619JQ. The main activity of our charity t2k¢s place at The Hub, Richh&ll. W¢ have been leasing this building since November 2019. The facilities at The Hub allow the Gharity to hold weekly church services, mid week services and youth clubs. The building is also available for community use and is currently used by a speecb and dram& group, a group for those with additional needs and for group ci)mmunity meetings. Since last year. with the relaxing of Covid-19 restriction we have seen growth in the number of mMunity groups using the Space both on a weekly basis and for one off events. We have been able to provide the spac¢ to our local primary school to support their Ditch the Dark ¢v¢nt and h05ting a market event for the primary 6 Business Beginning5 class to sell products they have created. Page 2
Grnce Community Church (Ireland) Limited Trustees, Report Funds are raised by way of contributions, donations, grants and any other lawfjJl method towards the aims of the Charity. Since retumtng (after relaxing of Covid-19 restrictions) to ttleeting in person we have seen a slight increase in the fmancial giving through the weekly offering from the church. However the cost of living crisis has had an irnpad on how much those within the church are able to give. The 5ignifact increase in the Gost of electricity in particular h&8 negatively affected our finances. We were, however, able to obtain grants from EA amd ABC Council towards the running costs of the youth club. We also received a grant to help with renovations to the kitchen in the Hub. This has allowed us to continue sending funds to the charitable projects we have chosen while still covering the costs of leasing and rLll)ning The Hub. The charity endeavours to keep a prudent amount in reserve for the cash flow purposes but most fimds ar¢ Spent in the short t¢rn]. Youth Club As of September.2021 we have been running 2 weekly youth clubs one for primary 6 and 7 and one foT 1st to 3rd years. There has been a siglltficant response to this with arouud 130 youllg people attending between the two sessions. This in an in¢reas¢ of 50 young people from the previous year. These youth Clubs have greatly benefitted the young people in the area because of the rural setting there are limited activities and resources available to them. Future Plans In the n¢xt year would like to have a d¢di¢ated prayer room in our Hub building that will be open to all th¢ churches in our community to help improve relattons between the different churchs and denominations. The charity is seeking to continue increasing its community engagement. We have already seen how valuable the youth clubs have been and the charity is seeking to continue to develop new pro8rdms for young people and their families as well as other people within the community. Structur4 governance and maDaEement Nathre ofgoverning document The Gharity is a wmpany limited by guarantee, governed by its Memorandum and Articles of Association. It has been granted charitable status by The Charities Commission for Northern Ireland under r¢gistr*ion number NOC107784. FiDancial instruments Objectiva dndpolldes The charity's activities expose it to a number of flliancial risks including credit risk, cash flow risk and liquidity risk. The us¢ of fillanci derivative5 is governed by the charity's policies approved by the board of trustees, which prnvide written principles on th¢ use of financiai derivativcs to manag¢ th¢se risks. The tharity does not use derivative fmancial instruments for speculative purposes. Page 3
Grace Community Church reland) Limited Trustees, Report Credtl ruk The charity's principal fll]ancial assets are bank balances and cash. trade and other receivables, and investments. The Charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtfill receivables. An allowance frir irnpainnent is made where there is an identified loss event which, based on previous experience. is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid fimds 3nd derivative financial instrLunents is limited because the eounterparties are banks with high credit-ratings assigned by international CTedit-rating agencies. The charity has no significant conwitration of credit risK with exposure spread over a large numb£r of unterparties and custr)mers. Llquidity rifk In order to maintain liquidity lo ensure that sufficient fimd8 are available for ongoing operations and future developments, the charity u5e5 a mixtilre of long-terni and short-tenn debt finance. Further detsils regarding liquidity risk can be found in the Statement of accounting policies ID the fjnancial statements. Statement of trustees, responsibllities The ttijstees (who are s0 the directors of Grace Community Church (Ireland) Limited ftir the pUOseS of mpany law) are responsible for preparing the trustees, report and the financial statements in accordance 7th applicable law and United Kingdom Accounting Standar(ts (Unifrd Kingdom Generally Accepted Accounting Practice), includtng FRS 102 "The Financial Reporting Stand8rd applicable in the UK and Republic of Ireland" Cornpany law require5 the trustees to prepare fman¢iai ststements for each financial year. Under company law the tnjstees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to-. select suitable accounttng policies and apply thern nsistentIy. observe the methods and prtnciples in the Chartties SORP. rnake judgements and estimates that are reasonable 2nd prudent. state whether applicable accounting standards. comprising FRS 102 have been followed. subject to any matertal departures disclosed and explained in the financial statements" and prepar¢ th¢ financial statements on the going ¢on¢ern basis unless it is inappropriate to presume that the charttable company will ¢ontinue in business. The tneS are responsible for kwing proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the fmancial sLqternents cornply with the Companies Act 2006. They aTe also responsible for safeguarding the assets of the charitable mpany and hence for taking reasonable steps for the prevention and detedion of fraud and other irregulariti¢s. Page 4
Grace Community Church (Ireland) Limited Trnstees, Report The Inistees are responsible for the maintenance and ithgrity of the coryornts alld SE]CIal information in¢luded on the chaTitable COpanY'S website. Lwslation governing the preparation alld dissemination of financid statsmeots may differ from legislation ijj other jwisdirtiolls. ed by the trustees of the cbarity on 22 Jjme 2023 and Sied on its behalf by: Tn Page 5